19 07 2024

  • NBC
  • Splash247

Global IT Malfunction Impacts Supply Chain Operating Systems

Global businesses across different sectors reported failures of their Windows PCs, caused by a failed software update from antivirus company CrowdStrike.

Many major airlines grounded their flights, and the IT failure impacted everything from port authorities to train systems. Several ocean carriers said they have been “severely” affected by the issue too.

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Programming code abstract technology background of software developer and Computer script

18 07 2024

  • GCaptain
  • Maritime Executive
  • The LoadStar

International Longshoremen’s Association Warns October Strike is “More Likely”

The International Longshoremen’s Association (ILA) leader warned that a strike at all U.S. Atlantic and Gulf Coast ports is increasingly likely as time passes to negotiate a new six-year master contract with the United States Maritime Alliance (USMX). The preexisting USMX-ILA contract—last ratified September 2018—governs approximately 14,500 port workers on the U.S. East and Gulf Coasts and is due to expire on 30 September 2024.


ILA President Harold Daggett, who is leading the union’s negotiations, issued a blistering statement about the lack of negotiation progress with USMX, reiterating that ILA members are 100% behind him and are willing to “hit the streets” once the current contract expires. Daggett stated,

“We will not entertain any discussions about extending the current contract, nor are we interested in any help from outside agencies to interfere in our negotiations with USMX,” Daggett said. “This includes the Biden administration and the Department of Labor.”

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    U.S. Federal Maritime Commission Halts Expected "Gemini Cooperation"

    In a recent statement, the U.S. Federal Maritime Commission (FMC) said:

    “The commission has determined that the Gemini Cooperation agreement as submitted lacks sufficient detail to allow for a complete analysis of its potential competitive impacts. Re-consideration of the agreement will not commence until the commission has received a fully compliant response to its inquiry.” 

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    02 07 2024

    • GCaptain
    • Journal of Commerce

    Global Port Congestion Reaches 18-Month High

    Global port congestion recently reached an 18-month high, with 60% of the ships waiting at anchor in Asia. Vessel capacity shortages in key markets are exacerbating the disruption and driving more cargo owners toward air cargo.

    Diversions around southern Africa are stretching container equipment supplies, as reflected by an increase in Chinese container lease rates and equipment scarcity at North Asian ports.

    Ocean carriers have received almost 1.6 million TEUs of capacity so far this year, but the capacity delivered has made little difference in the monthly effective capacity provided to the market, according to Drewry. 

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    Truck in container depot

    25 06 2024

    • GCaptain

    Russia Actively Developing Northern Sea Route

    Russia is quickly developing the Northern Sea Route (NSR) to become a year-round Arctic maritime shortcut. The government has a publicly stated goal of achieving year-round container transportation along the NSR between China and Russia’s northwestern ports within 3 years. 

    • This year officials expect transit cargo to reach 3 million tons, around 50% more year-over-year (YoY).  
    • Ship tracking data shows Indian purchases of Russian oil reaching a nine-month high in April ‘24.  

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    • The LoadStar

    Bangladesh Suspends Cabotage Rules

    The High Court of Bangladesh suspended its cabotage rules for six months. Cabotage rules require every foreign vessel to obtain a waiver certificate from the country’s shipping regulator before loading any cargo destined for or leaving Bangladesh.  

    • Cabotage rules are regulations that restrict or regulate foreign vessels from performing domestic maritime transportation. Cabotage laws apply to merchant ships in most countries that have a coastline to protect the domestic shipping industry from foreign competition, preserve domestically owned shipping infrastructure for national security purposes, and ensure safety in congested territorial waters.  

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    • Maritime Executive
    • Reuters

    India's Government Plans Fleet Expansion via New Shipping Firm

    During the next decade, India plans to establish a new shipping company to expand its fleet by at least 1,000 ships. The country’s goal is to reduce its reliance on foreign firms by at least 1/3 by 2047.  

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    10 06 2024

    • AP News
    • GCaptain

    Port of Baltimore Clears Debris, Becomes Fully Operational Again

    The Fort McHenry Channel is fully cleared, and the Port of Baltimore has officially reopened for business.

    Salvage crews in Baltimore have successfully removed the final large steel truss segment of the collapsed Francis Scott Key Bridge. The channel is now restored to its original operational dimensions of 700 feet wide and 50 feet deep.

    Local officials expect commercial shipping traffic through the Port of Baltimore to return to normal levels in June ’24. Routine maintenance of the channel will ensure future dredging operations will not be impacted.

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    03 06 2024

      Newly Built Vessels Are Beginning to Impact Market Capacity

      During Q1 ‘24 the container shipping industry witnessed a record delivery of >1 million 20’ TEUs of capacity. The new build order book now stands at 6.1M TEU or roughly 21% of the current fleet.  

      • A record 2.3M TEU was already delivered in 2023. 
      • Container volumes only grew 4% between 2019-2023 whereas the fleet grew 21%.  
      • Between 2023-2025, the fleet is expected to grow another 15%.  

      The number of new vessels expected to be delivered in ‘24/’25 will likely offset high demand, putting added pressure on shipping profitability. Small and mid-size operators are frequently becoming tonnage providers to the mainline operators, as they can earn more money by leasing their vessels in a market with a tight supply. 

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      01 06 2024

      • Journal of Commerce

      Singapore Experiencing Critical Congestion

      Congestion in Singapore, the world’s second-busiest container port, has reached a critical level, compounding the shortage of ships and containers. Linerlytica data indicates that containerships must wait up to seven days to berth in Singapore, with roughly 450,000 TEU of vessels recently in the queue. As berthing delays lengthen, container lines are increasingly skipping the port to keep their vessel schedules as consistent as possible.   

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